A judicial investigation has now been opened following the armed robbery of the ‘Monaco Watch Company’ store on Boulevard des Moulins at around 11:30 on the morning of Wednesday, May 29, in which an individual disguised as an older man held the store clerk at gunpoint before making off with millions of euros worth of luxury watches.

First estimated at three million euros, the financial damage was reassessed to a sum of over four million euros on the evening of Thursday, May 30, according to the Prosecutor General of the Principality.

The Monaco Watch Company should reopen on Monday, June 3, at least in an administrative sense. The ill-fated store took to social media to directly address the terrible turn of events, writing: “We would like to express our deep gratitude for all your messages of support. Your encouragement means a lot to us and gives us the strength to continue. We are currently going through a difficult time. Please give us a few days to sort things out. We will come back stronger than ever.”

The general prosecutor’s office opened this Thursday afternoon a judicial investigation entrusted to an investigating judge, on counts of armed robbery and criminal association. The Monegasque police investigators are supported by their French counterparts from the Nice judicial police as the hunt is on for the two individuals involved in this high stakes robbery.

While the faux-grandpa took as many watches as possible, an associate stayed close to the store so that they could both make a fast escape to Beausoleil. Both individuals remain at large at the time of reporting.